695,400 Shares in First Majestic Silver Corp. $AG Bought by DJE Kapital AG

DJE Kapital AG acquired a new stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 695,400 shares of the mining company’s stock, valued at approximately $5,615,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AG. Dynamic Technology Lab Private Ltd boosted its holdings in First Majestic Silver by 66.4% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock valued at $675,000 after acquiring an additional 40,228 shares during the period. Capital Management Associates Inc purchased a new stake in First Majestic Silver in the second quarter worth $333,000. Bayforest Capital Ltd lifted its position in shares of First Majestic Silver by 1,978.6% during the first quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock worth $1,431,000 after purchasing an additional 203,555 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of First Majestic Silver during the first quarter valued at $1,935,000. Finally, Marotta Asset Management bought a new position in shares of First Majestic Silver in the second quarter worth about $633,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AG shares. Scotiabank lifted their price objective on shares of First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday. Finally, TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

First Majestic Silver Price Performance

NYSE AG opened at $11.39 on Friday. The company has a market cap of $5.58 billion, a PE ratio of -1,137.76 and a beta of 0.79. The firm’s 50 day moving average price is $11.85 and its 200-day moving average price is $9.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver Corp. has a 52-week low of $5.09 and a 52-week high of $15.69.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $429.78 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.During the same quarter in the prior year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 95.3% on a year-over-year basis. Sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.0052 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver’s dividend payout ratio is 14.29%.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.